If the firm is producing in the long run, then the firm's average total cost curve:
A. equals the average variable cost curve.
B. is less than the average variable cost curve.
C. exceeds the average variable cost curve.
D. equals zero.
Answer: A
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If a country's private saving is 100 and government saving is -100, domestic private investment
A) must be 200. B) must be zero. C) is equal to the net amount the economy borrows from other countries. D) is equal to the net amount the economy lends to other countries.
When there is no cooperation among oligopolists, their behavior can mimic the elements of both _____ and _____
a. monopolistic competition; a monopoly b. a monopoly; competitive markets c. competitive markets; monopolistic competition d. a monopoly; contestable markets
Total taxes minus transfer payments minus government interest payments is called:
A. national saving. B. net taxes. C. a budget surplus. D. a budget deficit.
By 2006, the market price of European Union emissions allowances dropped because
A) governments set their overall emission caps too high. B) firms had drastically reduced their emissions. C) firms underreport their emission amounts. D) the market did not clear.